volatility has been there a little more so if you look at small caps versus large caps in that particular trade, it has been for a while now large caps with leadership. something to keep an eye on. >> we'll be watching the markets the rest of the day, rest of the week come over here, dom. come on. thanks for watching "power lunch. you say -- >> "closing bell" starts right now. >> thank you, tyler and dom. welcome to "closing bell." i'm sara eisen here at the new york stock exchange. bit of a relief rally for stocks today, but the dow, s&p up about 1% nasdaq up 2%, first gain in four sessions >> i'm wilfred frost let's look at what's driving the action russia has pulled back some troops around ukraine, easing concerns about rising geopolitical tensions there. president biden set to speak about ukraine in about thirbt min 30 minutes with that news, oil dropping, and energy the worst performing sector on the s&p 500. as a result. also of note today, small caps

outperforming what the russell 2.5% >> coming up thon show, we'll talk to two airline ceos about the return to travel delta's ceo, ed bagz, jetblue's robin hayes will give us their take on the industry >> plus, we're gearing up for a big hour of earnings airbnb, wynn, roblox all set to record "mad money's" jim cramer will give us his snanlinstant analys soon as the numbers cross. >> mike santoli is tracking the market action for us, and alex from the eurasia group here with the latest on the conflict between russia and ukraine mike, first to you and the markets. nice relief rally. >> i think relief is exactly what we've got here. kind of lifted the s&p 500 out of that zone of the late january lows it's allowed it to look like there's a little bit of a higher

low for now, although the market has been trading very much right within friday's range. so friday is when you did see the bottom kind of drop out by 1% to 2% under the s&p 500 when we got a little bit of the ratcheting up on russia tensions it's not all the market has been dealing with, but that's the last little turn of the screw that got the market on its heels for friday and monday. so lifted, this still remains the important kind of area there, 4600, the 50-day average there. lot of challenges to getting over the hurdle and back in the zone of the highs. airbnb reporting after the close. here's how the stock has done since its ipo, the day after its ipo, actually, in late 2020. compared to what you might consider, the two comps in there. doordash came public right in the same time period as airbnb, not doing well, and expedia, which owns vrbo, has actually had this really nice run so travel, lodging stuff, is really a tailwind, and you're seeing that kind of consumer app, that sort of digital

economy sharing economy type app, that's sort of struggled here but airbnb has held its own, above $100 billion market value even though it hasn't been a torrid performer out of the gate roblox also had a tremendous run late last year that it's now given up almost entirely here you consider against other ipos as well as the video game and esports etf, it's done okay. i would also point out a couple of vertical moves. three earnings reports two of them had huge gains one had a small loss in august so obviously, it's shown a penchant for having some relatively mercurial action after it reports numbers >> we'll gear up for that. thank you. >> let's get to new developments on russia and ukraine, driving a market higher today. alex from the eurasia group joins us what exactly do we know about de-escalation at this point? how solid of a word is that to use? >> well, it's not clear just how

solid it is at this point. i think we did see some positive signals over the last 24 to 48 hours coming from the kremlin on their interest in keeping communication lines open with the west that came from president putin, from foreign minister lavrov yesterday in a public setting. that was a good sign that they want to keep talking we had more of that today with chancellor scholz's visit to mauz cow to talk things over as well it's also not clear with these reports of russian troop movements away from the ukrainian border how substantial that is, and it's not clear it's been verified at this point. i think there are still a lot of questions there as to where things stand >> alex, if it does de-escalate from here, what ultimately will russia have gained i mean, i get on one level people say it's exposed the weakness in the west at the moment, but at the same time, it isn't likely to galvanize them going forward toalter the weak position perhaps europe has been in of late

>> i think there is a question as to what constitutes a victory here for president putin in terms of these discussions, and i think he does still need to see some tangible results stemming from these negotiations with the west. i certainly don't think that it's over at this stage. in fact, there still is a significant risk that these talks with the u.s., talks with nato, and with ukraine, that they fall apart. we actually see a risk of a russian attack as still a base case scenario, with diplomacy still certainly a possibility to lead to de-escalation. but really, a lot of questions as to whether or not there's been a clear breakthrough in negotiations >> how do you guys see the china angle fitting in here? >> well, i think that the chinese are going to show support to russia. we saw that in the summit between president putin and president xi just ahead of the start of the winter olympics but what's also clear is that the chinese government is not interested in seeing military conflict in ukraine.

they want a diplomatic solution here as well so while they support russia on some of their points about nato and eastern european security, i think they want to see things calm down a bit. and it's not clear that this is going to be the partner that's going to sort of help russia through any sanctions if those are imposed by the u.s. or the eu in this situation nevertheless, it is still a very strong relationship. it's getting stronger as well. it's going to be very important for the russian government going forward. >> alex, thanks so much for joining us we appreciate it don't forget, 3:30 p.m. eastern time, the president expected to address the situation in russia/ukraine perhaps give us more concrete news of potential good news in de-escalation. >> meanwhile,shares of jetblue soaring after wolf research up upgraded the stock we'll talk to the ceo robin hayes about demand for travel as covid cases decline in the u.s plus, awaiting comments from president biden, as i mentioned,

we'll take you there live as it happens. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor

looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. ♪ ♪ and helping you plan for future generations. it's electric... made extraordinary. ingenuity... in motion. it listens, learns, adapts and anticipates your every need.

with intelligence... that feels anything but artificial. the eqs from mercedes-benz. it's the car electric has been waiting for.

after announcing plans to order 30 additional airbus a-220 aircraft that brings their total number of aircraft on order to 100. wolf research also upgraded jetblue to perform frad underperformer they have higher leverage to improve pricing. joining us in a "closing bell" exclusive, ceo robin hayes great to see you

thanks for joining us. >> hi, wilf. great to be with you i'm very sorry to see you go everything else has been good news today, but seeing you leave is the bad news of my day. >> you're too kind, robin. why don't we focus on those positives then, and it good news announced. my question on the airbus deal is, how much you have considered alternative options, obviously, specifically boeing, or do you foresee that you're always going to be an airbus airline for the foreseeable future >> no, i mean, we have been an airbus customer since our founding we just had our 22nd birthday, believe it or not. and look, any time we're looking at airplanes, it's a big investment, the biggest investment any airline has, so we have to look at all alternatives we already had 70 a-220s on

order, taking this to 100 is going to give us a larger fleet. it's a great airplane. it's going to help us improve our unit cost performance. it's going to give us new capabilities to fly to new destinations and our customers rate it as the number one airplane we fly so there were lots of good reasons to take more of the a-220s >> the other thing that came to mind as you made this new order is the extent to which you think dual aisle aircraft are a thing of the past, certainly never a thing of the future for jetblue, will you only ever consider routes that are achievable with a single aisle >> i think certainly for the next few years we have three 21s on order, the long range version which we're currently using to london. we have some xlr, extra long range, coming, so that's going to give us a lot of capability, particularly into europe longer term, we never say never. there are certain destinations

in our future that are longer distances than clearly we're going to need to look at a different airplane, but right now, we have our hands full with our 220 and 321. >> how is demand, robin? what are you seeing right now as the omicron wave comes down here in the u.s. and international travel opens back up >> great question, sara. really, and you probably hear this more from your friends and family as well, as the wave has subsided here, demand for travel has significantly picked up. we have seen that before you know, as a wave, as a variant sort of takes hold, we see travel impacted and as it starts to recede, people start traveling again. we are certainly seeing that again, and we are expecting a very strong presidents' day break here, and march and april bookings are on track. >> robin, i know you said to us in the past that you're not ever thinking about major kind of

mergers or acquisitions going forward. you want do it on your own, but what about more deals like you did with american airlines in terms of share,s particularly as you look to expand more in europe are there opportunity to partner with any airlines based there on that front >> yeah, no, so we do have a number of co-chair partnerships around the world, including with some european airlines, and i think we'll see more of those. and i think what's unique about our partnership with american is it really helps us right here in new york jetblue, where jetblue calls home also in boston it's going to allow us to grow in a way that wasn't going to be possible afterwards. just to put numbers on it, we're going to be about 300 flights a day out of new york this summer. we were 200 flights a day in 2019 that's more jetblue flights, more choice, more competition, more low fares so that's going to allow us to bring the jetblue experience to more customers so the american relationship with our northeast alliances is

very important in terms of helping us grow in the northeast. and then we're going to continue to add relationships with airlines around the world where it makes sense to partner. >> doj, robin, has been trying to block that alliance with american, in the northeast and i was curious what you thought of the spirit/frontier merger and whether the competition, regulators would let it go through? >> yeah, i'm not going to comment on that because obviously, we have our own alliance we are actually expecting a court case here in september we are very passionate that the nea is good for competition. we're very passionate it's going to allow more low fares and more choice in a way that wasn't possible and you know, if we were to lose in the nea couldn't proceed, all those slots are going to go from jetblue, they're going to go back to american so to me, that doesn't make any sense. what we have here in the u.s. is

four very large airlines that have over 80% share. the smaller and medium sized carriers like jetblue, we have to be innovative in finding new ways to compete. you look at spirit, frontier proposed merger, our partnership on the nea, this is all about trying to create a more competitive industry >> i certainly welcome more competition on the translantic route, robin a route i will continue to fly >> i hope sara is going to have me on the show now that you have gone >> you're welcome. >> i won't reveal who i fly, but more competition and prices coming down are always a good thing, and robin, thank you for your time, as always and make sure you come back with sara on "closing bell. there's no other place >> i would love to, and all the best to you and your family in the future >> thanks, robin >> really nice robin hayes. we have just about 45 minutes to go here before the bell. take a look at the market. strength continues we have a more than 1% rise here

on the dow on the s&p up 1.4% on the nasdaq, up 2.3% of course, it's been hardest hit, up 2.6% for the small caps. >> animal care company zoetis going strong up next, kristen peck gives us her take on the quarter and the innovations coming down the pipeline president biden set to speak any moment about tengs between russia and ukraine we'll take you live this afternoon to the white house as soon as we hear from the president. and as we head to break, check out some of today's top searched tickers on cnbc.com. ten-year yield on top, followed by nvidia which reports earnings tomorrow it's surging 9%. tesla, meta, and apple meta getting a bounce, 1%. still more than 40% off its highs. 'lbehtac bk.

new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.

ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf.

dow up 400 points now. shares of zoetis in the green

after reporting earnings that beat on the top and bottom line. seeing strength in its pet products business. that offset weakness in livestock shares up 20% over the past 12 months but down 20% from december highs. joining us first on cnbc, zoetis ceo kristen peck everybody thought the pet adoption craze would pull forward all this demand for pet care during the pandemic looks like it's still going strong what are you seeing? >> yes, thanks for having me back, sara and wilf. great to be back what was our best year ever in 2021 you know, i think it was really led by our innovative, diverse, and durable portfolio. as you mentioned, we saw significant strength in our pet care business, in our diagnostics, in emerging markets. that sets us up quite well with momentum going into 2022, you know, putting out guidance there from 9 to 11, and as you mentioned, really what's driving that is growth in the pet care business, where people are

spending more time with their pets, there are more pets, and they are spending more on those pets >> and you just expect that to continue given the kind of patterns that you guys have been seeing and people taking care of their pets >> yeah, we continue to see really strong revenue growth across the veterinary sector, about 8% in the last quarter, led by about a 3% increase in vet visits, but really what's driving that is spend per visit and the innovation that zoetis is driving across dermatology, we have talked, but really exciting as you saw last year is the growth of our two new monoclonal antibodies for pain in europe with expectations for labrella in 2022 to be a blockbuster in our industry, which is over $100 million really exciting to see that continued growth, not just in developed markets but in emerging markets as well >> kristen, i was going to ask in light of the extraordinary inflation we have seen in

agricultural commodities, whether that drives pricing power for your related products in that area or pricing pressures as your customers are kind of feeling the squeeze in various areas in the supply chain. >> there's different dynamics as you mentioned between the livestock side and the pet care side in pet care, we have significant innovation bringing first to its kind products that really are enhancing and really changing and disrupting the way they can care for animals in ways we never imagined in that area, we are pricing power. we continue to see pressure in livestock, as you were talking about, input cost for many of our producers are up and there's challenges there as you saw in 2021, we had 1% growth there versus pet care, where you saw 27%. we see some of though trends continuing into 2022 with continued pressure but thankfully, with our innovative portfolio, we're able to take price on the pet care side, which is about 60% of our portfolio.

>> but some people thought that opening up of the economies meant more eating out at restaurants and that would drive a lot more demand for food, especially when prices at the grocery are high so is that not the case or it's just getting offset by some of the supply pressures >> we have seen increases. but we're not back to pre-pandemic levels. certainly in travel and tourism, so people are out dining, but some of the travel and tourism, and there's been a lot of challenges for producers, as you know labor has been certainly a big one. so i think some of that stuff in a cyclical industry such as livestock will take a while to work through we really sought 8% growth outside of the u.s. in livestock. we think when we get through some of the loss of exclusivity, we expect growth in livestock to go back to pre-pandemic levels in the 4% to 6% range. >> we saw that great, not great, but big hamster cull in hong kong during some of the covid fears. we ask about what we learned

about covid and pets, whether they can spread them there were deer in staten island that tested positive for covid i'm wondering how much of an innovation driver this is for you, looking at vaccines and treatments on covid for animals, or do you just see this as a temporary phenomenon >> look, i think zoetis has always talked about when it comes to emerging infectious disease, first to know and fast to market. we were working on developing a vaccine for covid for pets in case they were going to be significantly impacted thankfully, they really haven't been most of it has been human to pets, and it hasn't been that major. but what we did is pivot that program to help support zeoos. we provided covid vaccines to about 100 zoos in 41 states in 14 countries helping over 13,000 animals. you know, the reality is 70% of emerging infectious disease in humans has an animal origin, so staying on the forefront of this in our industry is really critical not just to animal health but to human health as well

zoetis is committed to doing that >> 70% wow. kristen, thank you for joining us kristen peck >> a number of travel stocks leading in today's rally delta among the names seeing the biggest gains higher by 6% joining us now in a first on cnbc interview is delta airlines ceo ed bastian very good afternoon to you thanks for joining us. >> good afternoon to you, wilf great to be with you, and sorry to hear you're heading back home, but we fly to london, too, so we'll be seeing you hopefully a lot. >> a little competition. >> let's keep this competition up and hopefully the prices will fall ed, good to have you with us interesting as well today, after of course a day after you announced a special payment to your employees talk us through what that was and the thought process behind it >> sure. well, valentine's day is always a special day at delta it's when we distribute our

profit sharing payments to our people and get out and celebrate and thank them for the great service they provided. this past year, we were profitable for the last half of '21. the last six months, the only major airline that was profitable so we used that amount to go ahead and share the goodness with our people. it's our culture to share our success together and i was all over our system yesterday, and it was really great. our team won just about every award there is to win in the airline industry last year, delta won, and i wanted to thank them for what they do. >> and you mentioned it lightheartedly, trans-atlantic travel, but is that an area you're hoping or expecting demand topick up significantly in the weeks and months ahead? both europe and the u.s. seemingly coming out of omicron, initial signs are good there >> absolutely. as you know, presidents' day weekend really is the unofficial start of the spring travel period and we're seeing an enormous amount of pent-up demand last week, three of the busiest,

in fact, the three busiest booking days that we have seen over the last two years occurred last week. and i think this week we're going to break them yet again. so the demand is there omicron is receding. people are ready to get back, not just in the u.s., but to europe, get back to their businesses, get back for many different reasons that they travel and we're ready for them >> ed, it's sara you mentioned businesses that's what i wanted to ask about because you have the most exposure to corporate travel and it's kind of uncertain still, how much and how fast that all comes back. what do you see? >> well, in the last part of the year, we saw travel, particularly business travel, really start to pick up. we closed the year at about 60% return from where we were. omicron put a dent in that and went backwards a little bit, but businesses are starting to reopen again we're seeing a significant pickup, our last weeks of business bookings have been right on par with the high point we saw towards the tail end of

last year. and as businesses reopen and as people feel comfortable, particularly internationally traveling again, i think we're going to see business travel not get back in the same level for the same reasons it was, because i think we have all learned some new behaviors, but i think people are going to find different reasons to travel in peoplium categories. and throughout the pandemic, our premium cabins have by far led us through the recovery, and whether business customers are sitting in there or premium leisure customers in there, we're going to sell those cabins and we're going to do pretty well i think business travel, the outlook is fine. i think when we get to the other end of this, we'll have a better chance to see who's right. everyone has their own point of view, but my opinion is pretty bullish on it. >> what extent do you think the pent-up demand comes once the pandemic is behind us, comes out regardless of what happens in the economic situation, or is there a chance that even though that demand has been building up, if we do see a little bit of

an economic slowdown as rates rise, you never actually get to see any catch-up with what was missed over the last 18 months >> i think you're seeing the economy as a whole is driving premium experience, premium goods, premium services. and delta is going to be part of that >> ed, forgive me, ed. particularly on my final conversation with you, but the president has come out and we have to pivot to him as i'm sure you'll understand. ed bastian, as ever, many thanks let's listen in to the president. >> no matter what happens, we are ready with diplomacy, to be engaged in diplomacy with russia and our allies and partners to improve stability and security in europe as a whole, and we're ready to respond decisively to a russian attack on ukraine. which is still very much a possibility. all of the events of the last few weeks and months, this has been our approach. and it remains our approach now. so today, i want to speak to the

american people about the situation on the ground, the steps we have taken, the actions we're prepared to take, and what's at stake for us and the world. and how this may impact on us here at home for weeks now, together with our allies and partners, my administration has engaged in nonstop diplomacy. this weekend, i spoke again with president putin to make clear that we are ready to keep pursuing high-level diplomacy, to reach written understandings among russia, the united states, and the nations of europe to address legitimate security concerns if that's his wish their security concerns and ours president putin and i agreed that our team should continue to engage toward this end, along with our european allies and partners yesterday, the russian government proposed to continue the diplomacy. i agreed we should give the diplomacy every chance to succeed.

i believe there are real ways to address our respective security concerns the united states has put on the table concrete ideas to establish the security environment in europe. we're proposing new arms control measures, new transparency measures, new strategic stability measures these measures apply to all parties. nato and russia alike. we're willing to make practical result oriented steps that can advance our common security. we will not sacrifice basic principles though. nations have a right to sovereignty and territorial integrity. they have the freedom to set their own course and choose with whom they will associate but that still leaves plenty of room for diplomacy and for de-escalation. that's the best way forward for all parties in our view. we'll continue our diplomatic efforts in close consultation with our allies and our

partners as long as there is hope of diplomatic resolution that prevents the use of force and avoids incredible human suffering that would follow, we will pursue it the russian defense minister reported today that some military units are leaving their positions near ukraine that would be good but we have not yet verified that we have not yet verified the russian military units are returning to their home bases. indeed, our analysts indicate that they remain very much in a threatening position and the fact remains right now, russia has more than 150,000 troops circling ukraine and belarus, and along ukraine's border an invasion remains distinctly possible that's why i have asked several times that all americans in ukraine leave now before it's too late to leave safely it is why we have temporarily

relocated our embassy from kyiv to lviv in western ukraine approaching the polish border. and we have been transparent with the american people and with the world about russia's plans. and the seriousness of the situation, so that everyone can see for themselves what is happening. we have shared what we know and what we're doing about it. let me be equally clear about what we are not doing. the united states and nato are not a threat to russia ukraine is not threatening russia neither the u.s. nor nato has missiles in ukraine. we do not, do not have plans to put them there as well we're not targeting the people of russia. we do not seek to destabilize russia to the citizens of russia, you are not our enemy. and i do not believe you want a bloody destructive war against ukraine, a country and a people

with whom you share such deep ties of family, history, and culture. 77 years ago, our people fought and sacrificed side by side to end the worst war in history world war ii was a war of necessity. but if russia attacks ukraine, it would be a war of choice. or a war without cause or reason i say these things not to provoke but to speak the truth because the truth matters. accountability matters if russia does invade in the days and weeks ahead, the human cost for ukraine will be immense. and the strategic cost for russia will also be immense. if russia attacks ukraine, it will be met with overwhelming international condemnation the world will not forget that russia chose needless death and destruction, invading ukraine will prove to be a

self-inflicted wound the united states and our allies and partners will respond decisively the west is united and galvanized today, our nato allies and the alliances as unified and determined as it has ever been and the source of our unbreakable strength continues to be the power, resilience, and universal appeal of our shared democratic values. because this is about more than just russia and ukraine. it's about standing for what we believe in, for the future we want for our world, for liberty, for the right of countless countries to choose their own destiny. and the right of people to determine their own futures. the penirinciple that a country can't change its neighbor borders by force that's our vision. and to that end, i'm confident that vision, that freedom will

prevail. if russia proceeds, we will rally the world to oppose its aggression the united states and our allies and partners around the world are ready to impose powerful sanctions on export controls including actions that did not, we did not pursue when russia invaded crimea in eastern ukraine in 2014. we will put intense pressure on their largest and most significant financial institutions and key industries. these measures are ready to go as soon and if russia moves. we'll impose long-term consequences to undermine russia's ability to compete economically and strategically, and when it comes to nord stream 2, the pipeline that would bring natural gas from russia to germany, if russia further invades ukraine, it will not happen i will not send american servicemen to fight in ukraine, we have slid the ukrainian

military with equipment to help defend themselves. we provided training and advice and intelligence for the same purpose. and make no mistake, the united states will defend every inch of nato territory with the full force of american power. an attack against one nato country is an attack against all of us. and the united states commitment to article 5 is sacrosanct already, response to russia's biltd-up of troops i have sent additional forces to bolsternato's eastern flank. several of our allies have also announced they'll add forces and capabilities to insure deterrence and defense along nato's eastern flank we will also continue to conduct military exercises with our allies and partners to enhance defensive readiness. and if russia invades, we'll take further steps to re-enforce our presence in nato, reassurance for our allies, and

deter further aggression to be clear, if russia decides to invade, that would also have consequences here at home. but the american people understand that defending democracy and liberty is never without cost this is a cause that unites republicans and democrats, and i want to thank the leaders of both parties who have smoken out in defense of our most basic, most bipartisan, most american principles i will not pretend this will be painless there could be impact on our energy prices so we're taking active steps to alleviate the pressure on our own energy markets and offset raising prices we're coordinating with major energy consumers and producers we're prepared to deploy all of the tools and authority at our disposal to provide relief at the gas pump, and i'll work with congress on additional measures to help protect consumers and invest the impact of prices at

the pump we're not seeking direct confrontation with russia. though i have been clear if russia targets americans in ukraine, we will respond forcefully if russia attacks the united states or our allies through asymmetric means like disruptive cyberattacks again our companies and critical infrastructure, we're prepared to respond. we're moving in lockstep with our nato allies and partners to deepen our collective defense against threats in cyberspace. two paths are still open for the sake of historic responsibility, russia and the united states share for global stability, for the sake of our common future, to choose diplomacy. but let there be no doubt, if russia commits this breach by invading ukraine, responsible nations around the world will not hesitate to respond. we do not stand for freedom

where it is at risk today will surely pay a steeper price tomorrow thank you. i'll keep you informed >> president biden not taking reporter questions, coming out and giving an update to the american people on the situation in ukraine he says that a russian attack on ukraine is still very much a possibility, and then later called it a distinct possibility. he says diplomacy should have every chance to succeed. but president biden also said he has not verified the russian units returning home, left very much the possibility open that russia could invade ukraine, and then spelled out a number of threats and costs associated with that decision he also talked about potential energy impacts and the nord stream 2 pipeline will not happen if russia invades ukraine. that's something investors are

pay attention to, also reiterated he will not be sending u.s. troops to fight in ukraine. >> i thought very good tone overall. >> more defiant. >> making it clear they weren't seeking to antagonize russia but outside of that would respond forcefully, also clear recommitment to nato and nato allies of course, which i think is important for many of those nations at the border of ukraine. two other big takeaways. one is if people think that speech was a good speech, you wander why it didn't come earlier, and the question, of course, comes up about the influence of some of those european countries like germany and france that haven't wanted to take as tough a stance on this over the last couple month. and secondly, come back to that question that we discussed with the eurasia group analysts at the top of the show, what will russia get out of this as it does, as we hope, peter out from here because you have a reiterated strong stance from the u.s. on this issue it's not like they're going to demilleterize the rest of the eastern european countries that are members of nato or allow

anything to really happen in ukraine. interesting on a number of levels >> what the president would probably say to that is we talked about being willing to speak about security assurances, surrounding ukraine, and obviously, that might involve its ultimate inclusion or not in nato so that's the main kind of issues at hand right here. i do think there might have been some hope that the president was going to come out and have some tangible progress to report or something else that might have suggested that they have greater indication that there has been a de-escalation. absent that, i think it explains why there's been this slight backing off in the market. we don't want to make too much of market moves. >> it seemed like stocks pared their canes. we'll continue to watch it we still have a nice rally oil prices are still lower by about 4% straight ahead, we have more company news to tell you about intel buying tower semi-conductor we'll share the details next in the market zone.

do not forget, you can watch or listen to us live on the go on the cnbc app dow is up 315. still healthy rally. nasdaq good for a in omogaf re than 2%. we'll be right back. ♪♪ ♪♪

♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

. welcome back we have a great lineup coming your way in the second hour of "closing bell. airbnb headlining a big hour of earnings an early investor in the company will give us his take on those results as soon as they cross. we'll also get instant analysis on roblox's results and whether you should buy after the report, and "mad money's" jim cramer gives us his take on the market volatility and the muskonomy, his greater vision for tesla

put but first, we have 13minutes t go in the trading day. we're in the "closing bell" market zone. mike santoli here to break down these rulsh moments of the trading day as always, and today, we have chief investment officer sarah malik here as well welcome. we'll kick it off with the b broader market stocks are on track to close in the green for the first time in four sessions. mike, how convinced are you of this rally a little bit of a better tone in russia/ukraine, not sure we got anything real out of biden as far as de-escalation >> the pressure has come off just a little bit. over the three sessions, the s&p 500 is down about 4%, a gain of a little over 1% back. it's clear the equity market at these levels doesn't mind when oil prices come in because it seems like they might be rising for reasons aside from pure economic supply and demand so that's a small positive factor also, short term treasury yields not rising on that big hot ppi

inflation number we got this morning. very small positive, too, suggests we have kind of repriced for what the fed is likely to do ppi is not often a big market mover. >> does it mean when the hikes come, the market can shrug it off, or is it still such a major change in direction after so long that it will have a negative effect? >> i think we're going to be largely prepare for it if it's 50, likely the fed will have tried to jawbone to market to 50 before that. i think the actual hike is usually after whatever reckoning happens within the market. maybe we go lower up to that point, or in fact, if we get assurances that the economy seems like it's powering through, it won't be a bad thing to get off zero and now that the two-year is already priced for maybe six hikes at this point. >> sarah, how are you thinking about how much the market is priced for in terms of fed action and hot inflation numbers and what we should be doing next >> well, the market this week started to price in seven hikes. i think that caused some of the

volatility we're focused on three issues, geopolitical issues, ifflation, and sustainability of earnings growth we're not surprised to see a sigh of relief on the geopolitical issues. those tend to be local but inflation is an issue we have seen broad based wage inflation, and also in last week's cpi, it was a shift from spending to goods and services so that's an issue for inflation going forward and whether economic growth can handle it. our bottom line though is that earnings growth this year should be able to overcome both of these issues and it leaves us modestly bullish >> intel set to buy tower semi-conductor for $5.4 billion, send shares of tower surging up 42%, the acquisition gives intel access to more specialized production as chip demand continues to rise. the entire chip sector rallying today, led by nvidia, marvell, and micron when i saw the headline of this earlier, i thought it was saying

they were buying tsmc, and i thought how did they manage that >> the other direction, actually >> bizarre but intel is higher as well today, and some kind of initial reaction to suggest it's a sort of defensive move rather than offensive one. but the market likes it. >> the market definitely sees it as incremental progress. it's not transformative. it's $6 billion, 3% of intel's market cap but probably also not a game changer. i think they sort of applaud the general sense of aggressiveness intel is trying to beef up in terms of manufacturing capacity and foundry, but maybe not the deal that gets them over the edge competitively necessarily so i don't think it's an outright negative, but again, it seems like not the first choice deal that intel might have looked to make >> interesting that intel shares are higher today off the deal. your position on intel or semis in general >> well, it's good for tower, but it's unclear to us whether this is good for intel

i agree with mike, this is barely a dent in their business. intel has been trying to get into the foundry business to make advanced product for many years now. they have not really had success with it. we're more a proponent of tsmc we like the companies that are already well positioned and intel has had challenges tower will bring some execution risk and doesn't give them a strong flag in the ground in this industry. >> but more broadly, do you think the semi sector is looking attractive here? more due for a breakout higher or could it retest the recent lows as rates go higher? >> we're more selective on semi-conductor stocks, but definitely tight supply, and we still see strong demand. we have actually started to see some easing of supply chains recently which is not only positive for inflation, but helpful for the companies as they continue to build supply and now we can get into products and get them incon consumers' hands. we like those that are dominant rather than those trying to build capacity at this point

>> looking at the sectors now, you have energy and utilities in the red. energy the worst performer for the second day in a row. the fall in energy stocks coming after russia said it removed from troops from the ukrainian border, potentially de-escalating the conflict, which sent oil prices to seven-year highs yesterday we just heard from president biden that the u.s. has not confirmed that, and that russia, the potential of russia invading ukraine is still a distinct possibility. what do you do with these energy stocks that have had such a good run? >> energy definitely got a bit of froth in it because of the russia/ukraine situation taking a step back, very good supply/demand dynamics demand should recover with travel and jet fuel demand supply should remain tight the key here is that producers are remaining disciplined. they're returning cash to shareholders rather than spending on new barrel growth. so overall, we like energy we look for areas that have lagged like the refiners these are companies that tend to be more dependent on barrel growth rather than oil prices.

they have lagged, so a company like valero is still interesting to us in an energy sector that probably has moved too far too fast year to date but has a lot of legs in front of it >> mike, in terms of the move in oil prices, clearly there was geopolitical premium built in. the question from here is how much those stocks give up ground if it does dissipate further from here. >> exactly i mean, they're up still tremendously, they were up month to date even though they're down 4% this week obviously coming from a position of strength. the thing to watch and you started to hear indications of maybe we're getting toward prices in the commodity where supplier discipline finally does buckle a little bit. incrementally. that's complicated by a bunch of different factors as to whether, you know, companies can really get that much more aggressive by turning on supply in these current supply chain conditions and everything, but i do think that right now, energy, the s&p energy sector has moved in lockstep with the commodities. it hasn't been an overshoot in one direction or the other

>> oblox, one of the big names reporting earnings after the close today. kate rooney has a preview for us >> hey, wilf growth metrics and guidance will be key for roblox. the gaming platform saw a huge run-up while a lot of us were homebound in the pandemic. in the third quarter, it saw revenue double and what the company expx as people go back to work and kids go back to school. wall street is also watching bookings that's a measure of the amount of virtual currency or robucks users purchased in the quarter analysts also looking for total user numbers, that's measured in daily active users engagement or the hours people spend on the platform, and international growth finally, they announced a deal with the nfl, so keep an eye out for any commentary around more branded experiences and partnerships back to you. >> kate rooney, thank you for that sara, where do you stand on roblox >> the quarter itself should probably be noisy because of covid comps. but roblox has a huge growth

trajectory ahead of it we have trobillion gamers so a lot of market for them to grow into the question for us is roblox isn't just for kids anymore. they had 25% plus adult users. how is that going to grow going forward? and of course, the global market outside of the u.s huge growth for roblox that's what people will be focusing on going forward. there's a big total addressable market for this company. >> just want to point out that stocks are regaining ground as we head to the close four minutes to go we're seeing session highs now the s&p up 1.5%. the nasdaq continuing its rise, more than 2% i think you had a pretty good line in your note today when you said that this is a pink and kelly clarkson - >> could become this >> what do you mean? >> you have to sing the answer >> i'm going to refrain from that this is one of my favorite dynamics pink means it's not broken, just bent we have had this correction. it's not really given way. and honestly, just give it a

reason is the other piece of it. it doesn't need that much of a catalyst it's also what doesn't kill me makes me stronger is the other thing about corrections. that's why they work that's why usually refreshes a bull market. i think people have gotten very defensive and very hedged up that's a positive even as we have done a lot of technical damage on the other side >> just give me a reason is now playing in my head i nearly broke into song, but i didn't want to be fired the day before i leave >> i think people would be cool with that. teenage daughters certainly have an influence in this man's life. >> yes >> anyway -- >> pink, kelly clarkson, i don't know, choose your pop song to fit the bull case that you might have on this market. >> i go with pink because of my two daughters. >> there you go. >> they love pink. >> not broken just bent, is that what we're going for do uthink that is the right mantra for the market? >> for the markets you know, i think what we're

watching for this year is earnings growth. specifically, you have to be selective. look for companies which have pricing power. the way to drive earnings is likely not margins we saw in the fourth quarter, earnings surprises were back at normal levels at about 5%, and lesser impact was from margins if you have pricing power, you can drive earnings from here, your stock price should do well. if you don't have pricing power, you're in a tough spot because of the inflationary price pressure >> got it. two minutes to go here, nvidia surging. apple, tesla, microsoft, nice rise here in some of the mega cap tech stocks, pulling the nasdaq 2.4% gain >> they have been driving the s&p 500 too. the internals have been strong all day. a big catch-up day we're still seeing more new lows than highs but a lot of that is closed in bond funds and things like that as rates go up you see advancing, declining volume almost four times declining volume, so that in the positive seeing the pullback in oil take a look at commodities more

generally. dba is an exchange traded instrument and it's down only about .5% today, but it has made this aggressive new high. you see once in the spring last year and once in the fall, it did have one of these good accelerations to the upside and it pulled back it would probably be good if it did cool off volatility index is down almost three points also a positive. that's what i was saying before. people are hedged up, paying up for protection it's been happening in the volatility market. that's what got the vix to 30. obviously, very kind of fluid situation with russia/ukraine, so it's hard to say that the market is really proven anything with this rally, but certainly incremental good step. >> looks like we're going to break the losing streak, after three days of losses, we're seeing gains into the close. the dow up 416 points. salesforce, biggest contributor to down games. that's a reversal of what we have seen. you have strength in groups like networking, i.t. smrx of the reopening plays doing well, like

cruises, gaming, hotels and airlines, marriott had good numbers today. s&p 500 up 1.6%. session highs into the close tech is the biggest winner energy is the biggest oser energy and utilities are down. everybody else is higher nasdaq gaining 2.5% into the close. and the only one doing better are the small caps, up 2.7% into the close for the russell 2000 all around, a pretty positive session. >> positive indeed welcome to "closing bell," everyone i'm wilfred frost along with sara eisen and mike santoli, cnbc senior markets common tata tartd. we have instant analysis from viacom, cbs, and roblox moments away plus, "mad money's" jim cramer is here to react to the results and the recent market volatility i can see him, he's just a few meters away. sarah malik is still with us, and rashon williams joins the

conversation as well mike, in terms of that nice little ramp we got up into the close, pretty much session highs, and however the speech went down, the news of the day was incrementally positive, as it came to russia/ukraine and shrugging off the rising rates that came with that. >> so far. again, i still think it's a little noncommittal just because we're back into last friday's range. wednesday, you'll remember, before we got that sell-off related to what jim bullard had to say, we were a couple percent up from here i think we're sort of doing the work and chopping it out in this corrective zone. definitely a positive that we stayed out of the hole from the late january lows, and as i said, i think people have, you know, the bulls have gotten a little demoralized i think you saw that in the bank of america fund manager survey today. that's probably insulation of further immediate downside because people have grown pretty defensive in the short term. >> we're still in earning seasons. you expect 8% to 10% growth on

earnings what are you getting from the guidance from companies? is the guidance as good as the reports? what does that tell us about where stocks go? >> guidance coming out of q4 earnings season was actually quite murky. what that led to was 2022 looking more like a back end loaded earnings year that is an issue we're going to come out in the first half with multiple rate hikes. we're going to watch what inflation does the upside would be that inflation starts to settle, the fed can take their foot off the gas a little bit with rate hikes. earnings can come out in the second half of the year quite strongly that's what it looks like it's lining up for this year. >> rashon, what's your view towards the sort of unprofitable tech universe that got hit so hard from kind of last year into the start of this year had it fallen enough or do you think it will retest the lows at some point in the coming months? >> i think we're going to keep retesting the lows for the tech companies and it's not just software technology companies. we're talking about biotech, a

little more than 50% of ipos over the last few years have been from unprofitable companies. that's also been driving all of the earnings growth over the last ten years because these companies become profitable, like docusign was unprofitable, amazon was unprofitable. people have been flocking to super high growth companies and the only place to look for those companies are in the tech space, and in my world, we reward hypergrowth more than we reward profitability. so that's a public company kind of twist that they start to transform into once they become a publicly traded company and start focusing on profitability. in my world, it's a battle for market share and revenue and growth, so that's how these companies become all grown up and everyone can own them and they become the amazon of the world. >> speaking of profitability, we are getting some earnings out. wynn resorts, contessa brewer with those results >> wynn resorts is announcing it plans to send the land and

physical assets of encore boston harbor for $1.7 billion in cash to realty income this is a property that it spent roughly $2.6 billion to build just a few years ago wynn will continue to operate encore and pay $100 million annually in rent also, it will retain a 13-acre parcel to develop an entertainment district this arrangement is becoming more common in the gaming industry, but this is wynn's first foray into this op-co prop-co company, operating company versus property company arrangement. also, sources tell me this will not affect anything to do with the las vegas operations it's just for boston right now earnings, revenues comingin slightly higher than expectations at $1.05 billion for the quarter versus $994 million. earnings are a miss with a loss of $1.37 per share versus the anticipated loss of $1.25. of course, this is still macao

covid restrictions dragging down the bottom line, with adjusted property ebitda, this is the key earnings metric in gaming turning up a nearly $30 million loss when the street was expecting a profit of nearly $20 million. on the other hand, wynn exceeded expectations in las vegas. spending up 34% from pre-pandemic levels two years ago. and guests are spending more at the casino, spending more on food, spending more on their actual hotel rooms all that despite the fact occupancy still hasn't quite recovered to 2019 levels the call starts at the half hour mark, and then tomorrow, you don't want to miss a cnbc exclusive when the new ceo, craig billings, joins me for his first cnbc interview on "squawk on the street. guys >> contessa, thank you for all that news. contessa brewer. we have another earnings alert viacom cbs, including new subscriber numbers for paramount plus let's get to julia with all

that >> that's right. viacom's earnings beating on the bottom line, reportening an adjusted 26 earns per share versus the 43 earnings per share esti estimated. that seems to be what is weighing on the stock, now down about 2%, but revenues did beat estimates with $8 billion in revenues versus the $7.5 billion estimated. and global subscribers coming in at 56 million versus the less than 53 million that analysts had estimated. so that's for total streaming subscribers, while paramount plus added 7.3 million subs to 32.8 million subs total. so we do seem to see that earnings miss weighing on shares, but we are seeing some better than expected streaming growth, and that streaming growth will be in focus when the company hosts its investor day that's coming up shortly back over to you >> julia, thank you. also we should note, viacom cbs ceo bob backus will be on

"squawk box" tomorrow morning. >> $56 million, not bad. airbnb earnings are also out deirdre bosa has those numbers >> shares popping 5% on strong beats on the top and bottom lines for air bn brk. eps 8 cents a share versus 3 cents. they were expected $1.3 billion versus $1.6 expected nights and experiences booked, that missed estimates, but excluding asia pack, it was up for the quarter. average daily rate surged 20% year over year it's up 36% over two years the company is attributing this to a change in its mix, larger houses, more rural areas, and also sector wide appreciation and also sees it increasing 4% in the current quarter has some pricing power and also seeing inflation they continue to see longer term stays make up more of total bookings the q1 outlook is strong,

beating the street's forecast, expecting revenue of $1.4 to $1.48 billion, and they expect bookings to exceed pre-pandemic levels and hit another record, so shares are up nicely on that, up nearly 6.5% on top of a more than 6% gain in the regular trading session. back over to you >> thanks so much for that rashaun, i wanted to get your reaction on this, and remind our viewers you were an early investor back in private market days of the company, and what your take is on that quarter >> you know, in light of what's happening in sports right now, i'll use a sports analogy. like watching your son who made it to the nba playing in the playoffs on the big stage. the company never had to report quarterly earnings we were long term investors, had no idea how they would weather omicron or covid or anything but to look at the earnings and see these guys beat three out of the five times they have reported, and for me, condensing it into the four things i look

at is a fantastic story and it's a high beta name that your viewers need to own in this industry number one, you look at the fundamentals they're checking all those boxes. love to see that number two, what factors contributed to that growth that's the big blurry area on whether or not work from home is kind of manifesting in a strong way, north and south american numbers, how they're working out. international, india and chine ha has always been kind of the future long term international growth prospects and then, long term stays. like you just mentioned, that's a very important metric to be watching here. but number three, are they seeing pricing pressure? so i'm also looking at some of the tailwinds that could help bring kind of future growth down a little bit oversupply in certain markets, competition, all of this brings pricing pressure down or pricing pressure up, and pricing down, and then of course, regulation i know people stopped talking about regulation now that it's a public company, but that's all i heard about when it was private, and battles are still being fought globally and locally in

this company every single day. >> airbnb's ceo will be on techcheck tomorrow you want to tune in to that. the stock is up 7.3% >> meanwhile, roblox sliding 14%, and kate rooney has the numbers for us to explain why. >> yeah, roblox shares down double digits right now. looks like a miss on the top and bottom line. start with earnings which was a loss it was a loss of 25 cents versus what wall street was looking for, which was 13 cents. revenue also lower than expected, $568 million versus about $772 million that wall street was expecting. doesn't look like we have guidance here quite yet. they have some numbers here for january, but not a comparable number does look like solid growth revenue was up 83% from the fourth quarter we had bookings increase about 20% average daily active users came in at 49.5% that grew 33% year over year hours engaged, 10.8 billion, up

28%. average bookings coming in at 15.57 billion, it looks like still digging through the numbers. but it looks like the stock is down more than 13% right now back to you. >> kate rooney, thank you for that don't miss an exclusive interview with the ceo of roblox on "squawk on the street." mike, just coming to you first of all on that share price reaction for them. obviously, some way from its highs. but had had a nice short term bounce >> it had. it's a pretty significant revenue miss, even though all of the user data looked like it's in line with the long term growth trends, which is probably a positive for the longer term they'll have to maybe answer to what is going on with monetization of some of the users and there's been some noise in these numbers around obviously pandemic dynamics and things like that they also did give sort of january key metrics where it also seems like very strong growth daily active users up 33% in that month and things like that. yeah, not the monetization side

is not quite there this is a company that, by the way, does produce free cash flow and has even from before it was public, even though it doesn't really report much in the way of actual net income, bottom line net income it's not purely about the total addressable market, but the market wants to see that things are on track in terms of monetizing the user base >> revenue, revenue for 2022, january, $203 to $206 million. >> up massively. >> growth numbers. looks like daily average users growing 32% for the january metrics. double digit growth across, engagement, users. revenue, bookings as well. this is one to dive in the stock is down 12% after hours. for now, we're going to leave it there. we appreciate it, bearing with us through all those earnings. we're just getting started on the second hour of "closing bell." up next, "mad money" jim cramer here to react to the after hour movers

closed near the highs. >> plus, morgan stanley analyst adam jonas on his top trade for innovation in the transportation and infrastructure industries. got a neno ow teut today we'll talk about it in two minutes.

. shares of roblox sinking after hours after reporting a wider than expected loss and a miss on revenue. the stock down 15% in after hours. brandon rosjoins us now, media analyst at light shed, a buy rating what's your take, deserve to be down this much >> the clear issue in the quarter was monetization side. it's something that actually a lot of investors had seen coming because it was evident in some of the data sources, other things that investors look at. where we're squarely focused now is on the user side, and user metrics look good. dau is up in the 20s, percent

monetization, the same -- i'm sorry, engagement, the same, especially in the month of january. like any early stage company that we look at, we look to see that user growth and engagement is really growing. and monetization could be layered on after and this company has a ton of different levers they're going to pull on the monetization side >> so when you say monetization, explain what you mean. why was that a big disappointment that you say you saw coming >> well, first thing here is that there's a mix shift going on a lot groat has moved out of the united states where monetization is a lot more nascent at this point, and that's something the company is working towards number one in the coming months, you're going to have a real professionalization of the platform right now, you have ugc creators

creating mostly everything on the platform we have invested in companies that are professionalizing, teaching ugc creators how to monetize, what engagement loops look like. that's something we expect to take off and then really, on the advertising and sponsorship side, at the recent analyst day, the company revealed different ad -- very interactive ad units. you saw the nfl just did a deal with roblox, just a couple weeks ago, which shows that kind of every big brand and media company knows they need to have a place there, especially with this type of user and engagement growth >> thanks so much for your quick take on roblox, which is sliding about 12% in after hours brandon ross there we're going to discuss roblox's move and all of the after hours earnings movers as well as today's almost session high close with jim cramer next

don't go anywhere. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. thanks for coming. vanguard. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

stocks ending the day higher the dow jumping 400 points we had a nice closing rally. snapping a three-day losing

streak here with us is "mad money's" jim cramer, what a treat, on set. i don't even know where to begin. >> i feel like a caged tiger great news congratulations to you on the fabulous gain you got into it didn't win, but that's all right. >> i'm just proud they made it that far and that i went to see them. >> and i'm like crying about this guy crying >> can i say, the small bonus is i knew we would have you on the final show tomorrow, but i didn't know we were going to get you today. i see this as a big win. >> i heard you had a slot and i'm filling in you know, from the day i met him, how great i think you are and i will see you my sister-in-law loves there, i do a lot of business there i don't want to get sad, but i love you >> you have always been a very generous supporter, and i appreciate it, but that's for tomorrow >> people who used to watch worldwide exchange back in the day. >> who is this guy i started watching i was watching a lot of stuff,

some sports, and then i saw you two guys i said, wait a second. this is like the most informed show on earth, and then i'm coming in hot to my show so thank you very much enough praise. let's make money for people. >> we have always, by the way, already had a weekend in london together we know we have to do that again. >> one of the greatest times i ever had >> we have to get to the market, and we look forward to you tomorrow as well i want to come -- before the earnings movers, what a close, and particularly some of the semis stocks you have been talking about. nvidia is up nearly 10%. >> they report tomorrow. you're dealing with staocks dow 20%, 30% from their highs. we have people saying look, it's a bear market. if you owned nvidia coming into the year, it's a bear market if you own amd, selling, knocked it down, and then boom, it was almost like wow, smh takes off watch marvell, they had a terrific quarter, and then the tower semi, which is a little

odd. i think it's great pat gelsinger is doing something and a lot of what they do is some cell phone, maybe he feels like he needs that, but it's not as cutting edge as i would like. i was bullish on the deal this morning. >> intel went up at least on that >> because i think, look, they have a pulse and this was something where they are a cash machine. people don't realize that intel makes more money than everybody. they had directed it really badly. this is a good idea. i like foundries, but foundries can be up and down >> in terms of the earnings movers, airbnb >> okay, all right, talking with brian after this number, and the one thing is clear >> brian chesky, ceo of airbnb >> yeah, sure. and here's what's amazing about brian. two years ago, we had a very hard phone call, i was in that hotelier business, and he was

saying, geez, i don't know are we going to make it i said, of course, you're going to make it it turns out now the stays are much longer. much longer. people just -- i tell you what's really incredible about this name me the competitors. he's so fared away the website is so great, the length of stay is great. they don't even -- check his language cross border versus marriott marriott is saying we're doing okay, and when cross border comes back, who knows. his is, we're crushing it. cross border or not cross border his enthusiasm is infectious i like the stock up here >> albeit both of you prefer the cronot to airbnb >> i took the tube, whatever that is, the tube. >> when in london, stay in bougie hotels. >> have you ever been out with him at the end of the evening? >> like a lot of times >> always very - >> fun he drinks more than i do >> only on weekends.

not on a school night. >> let's talk about roblox >> roblox, down 12%. >> very clever notice it was down 13% immediately. this reminds me of a lot of times when you deal with roblox. what you do, there's a fantasy line i mean, it's a fantasy company so wait for the darn conference call because there are always positive bombs that are dropped. by the way, positive bomb drop today by the russian military until the president popped that balloon. why didn't anyone else say what you said in tweet. what you tweeted was, now? now? >> yeah, but better late than never. he's drawn a line. the question, all of this is guesswork somewhat, but would he have drawn it if he was worried it would get crossed i think the news in the right direction, but we're far from that >> why is no one talking about the horrible -- the horrible probable outcome of 1948 in

finland, in the finlandization where you -- they basically are a puppet -- in exchange for not taking them into nato, making them a puppet country, they have to pull back the forces, and militias, and we know that nobody wants the finlandization, finland did want it. you could say stalin wanted it, but we need a strategy here. no one is offering any strategy of how we can get out of this thing. >> this was the first public statement by the u.s. president that there's some kind of strategy, i think. >> yes, and that's confusing to me, and we have to know what happened to the germans today. do you ever feel like it's a unified front? >> president biden did say that. >> i know he said it okay, great. >> i go back, by the way, to our interview with treasury secretary janet yellen, a good few weeks ago. we asked about economic sanctions, how ready they were to go. she said then, well, there are different opinions amongst our allies on how severe they are. that's been the running theme. we know that the energy dependence. >> i do continue to think that

cqe is the way to play this because it's obvious for the first month that our lng has exceeded the russian business. but if you want a steady 5.8% income, play on the whole morass if you want to be a dollar sign represented by a man, i would go with that one, not with lng, too dicy, no yield i want yield >> got it. what about for the broader market as a headwind, do you buy the idea that an escalation in geopolitical issues here could be recessionary, could prolong inflation? >> yes, i do, but how about buying the idea you saw a number this morning that -- >> ppi >> could always be worse, but there are a lot of people i deal with, whether it be larry williams saying this is when inflation has peaked historically, or carly garner who put oun an amazing work about all of the different commodities rolling over wti, isn't that supposed to being up if the president says

we're ready? why aren't -- how can the russians say that they're pulling back -- i don't want to belabor it too much, pulling back from the border and that not seen by our satellites >> a long way to go on that. >> wynn, you want to talk that >> i had a follow-up on roblox if we give them a pass even though the share price is down, how many quarters do they get that pass before they have to conform to what they are, a publicly listed company where people want metrics hit, tarkts hit, and guidance given? >> you know, that's a great question because it actually may be this quarter because last time they told you not to worry. not to worry narrative is getting boring you need a disney, paramount plus, you need someone to come in and say we're part of roblox, and you won't believe what we're bringing in metaverse. facebook wants do it alone, but i was hoping roblox would connect with nvidia which reports tomorrow which has by far the best graphic chips you need and come up with something

that's the equivalent of all of us not being us. i want a digital twin. i want my digital twin to be you, but that's not going to happen >> quickly, jim, let's hit wynn, down after hours revenue was a miss >> revenue a miss, earnings a miss, but the travel trust owns it here's what bothers me about wynn it's about whether there's going to be lockdown in china. it's a macao story they sold some boston land so here's the question >> i like that property. >>ia like that >> closer. >> the boston property, easier to get to, feels like you're in vegas too. >> nothing feels like vegas. >> i'm going to talk about macao, but i'll go vegas vegas is doing fantastically here's the problem which of you two says that after the olympics china is going to get rid of the lockdown? neither? >> no idea >> that's why wynn is selling off, because it's up on the idea

the lockdown is going to end do you think they tell the ceo no, they're clueless to say to be careful is talking against my book. >> the risk that did apply is never going to go acompletely away with china, but it has halved or so in the last three months >> remember, these aren't the days for wynn was telling the premier, listen to me, we're a big employer but it is still an important part of their economy. >> jim, thanks so much >> down almost 20% >> jim, thanks so much what am i just dispensed with? we covered like half of the things we're supposed to cover >> it's because we need to save the best for tomorrow. that's why >> but how about - >> leave them wanting more >> you don't want my view on -- okay all right. >> by the way, jim, we discussed this yesterday we need your qr code to start moving around the screen >> he wants the coinbase style

floating >> i guess i should go anyway. it was super second to last day and the answer is no, you have never flown norwegian because it's like ridiculous >> no, no, i used to fly norwegian, but it's gone out of business >> the 5:00 a.m. flight you told me about is out? now only the $5,000 ones >> never on norwegian, but anyway, we have to go. >> i know, i know. fine we didn't talk about the upstart. >> surging surging. >> i'll talk to you later. >> jim cramer. >> this is how you go? are you fgoing to leave like this do you have a cane >> what do you mean? >> like, you know. i don't know >> i'm not that old. i'm not retiring >> you're going to see mum >> certainly am. certainly am she's happy about that we have a news alert on viacom cbs. julia boorstin, it better be an exciting news alert to follow

that >> well, it is now the company formerly known as viacom cbs ceo bob backus just anannouncin the company is re19ing itself as paramount, the official name is paramount global it will trade as paraa, for the common stock, and sheari r redstone, the chairman of the company, just announced the name change on stage at the company's investor presentation, saying this reflects the completion of the integration of viacom and cbs and also the importance of the paramount brand and studio to the combined companies. this investor day is going on right now, but they also are stressing the growth of p paramount plus in particular >> i like it they could have also gone with ye yellowstone. or kostner >> but they lost yellowstone >> they do sublicense that for now. >> i did not watch yellowstone or paramount plus, right

>> on paramount network or the repeats you watched because you're behind. anyway, we have run over on all sorts of things. so we must keep moving julia, thank you so much time for a cnbc news update where shepard smith. >> just peacock. there is -- that's it, from the news on cnbc, here's what's happening. the serious day in washington. president biden warning americans if russia does invade ukraine, there would be economic consequences right here at home. >> i will not pretend this will be painless. there could be impact on our energy prices. so we are taking active steps to alleviate the pressure on our own energy markets and offset raising prices we're coordinating with major energy consumers and producers we're prepare td to deploy all f the tools in our disposal to relieve the gas pump >> the president also spoke directly to the russian people saying they are not america's enemy and unlike world war ii when russia and the united states worked together in a war

of necessity, he said this would be a war of choice and one with disastrous consequences new york city now confirms it did fire more than 1400 city workers for refusing to get a covid shot it's believed to be the nation's largest mass firing over a vaccine mandate. another round of pink slips could be coming. about 9,000 other city workers are still unvaccinated, many of them trying for medical or religious exemptions and the russian olympic committee figure skater kamila valiyeva qualified in first place for thursday's short program final. it comes a day after the olympic officials cleared her to compete in beijing even though she tested positive for a banned substance. tonight, alec baldwin and the producers of the movie "rust" facing a new lawsuit in the death of the cinematographer there, halyna hutchins details on the news right after olympics coverage, news time 7:00 eastern, cnbc back to you. >> shep, we'll see you then. thank you. >> up next on "closing bell,"

the muskonomy, adam jonas on why he's so bullish on teslaand , it's not just because of evs we'll be right back.

(doorbell rings) - [streamed woman] but this is where our road ends. - [streamed man] it has, jennifer. - [narrator] fantasnack: the feeling that comes when you've paired the perfect treat with whatever you're streaming. - [streamed woman] i assume you'd rather travel. - [narrator] on time, lowest price, or we'll make it right. - [streamed man] are you kidding me? - [narrator] grubhub.

here's a check on some of

the big after hours earnings movers airbnb pared some of its initial gains but up 4% after hours. viacom cbs or paramount global down 4%, a miss on earnings. wynn resorts down 3%, and roblroblox down about 13% on disappointing monetization >> shares of tesla, gm, and ford all higher today but as excitement grows over gm and ford as they invest billions of dollars in ev production, adam jonas says the biggest long term opportunity for theinvesto is tesla i liked your note today, writing about the value of the internal combustion engine, which you say is not dead and it's an interesting parallel to oil, which we see can be very valuable, at least the energy companies after everyone wrote them off for dead, but you still don't like these stock tell us what your thinking is around the internal combustion

engine and how investors should play that. >> the more we learn about tesla, the more we get concerned about the probability of legacy automakers really generating the return on cost to capital and ev investments or even a positive return on capital at all so just like we're learning with oil and gas, if you defund that too fast, there are consequences there are social consequences, there's inflationary consequences, and i think the same might be also applicable to the defunding or the phasing out of internal combustion the engine, easy to talk about going to 50 or 100% evs in a decade or so another thing to do it so we think the chances are that your viewers and our investors, our investing clients might be underestimating the value of internal combustion's duration more than they're underestimated the value of evs to say a legacy automaker competing against elon it's a pretty daunting task. >>ia still don't think people should be buying those stocks

like gm and ford on that view, right, because you think it's too hyped, the ev plans? >> the reason we don't think it's -- we don't think our clients will be paid for this year or so owning gm and ford is because all of that cash flow coming from internal combustion sales which is going to be there for many years is being plowed into very risky investments and largely unproven plans to scale production in a highly capitol intensive, highly competitive ev business it's a combination of expensi expensively prices cash flow from the internal combustion, it is a lot of cash flow, but very expensively priced, invested in a way that we think has lots of ways to not win. so yes, we're not recommending gm, and it's hard for us to recommend those companies as long as tesla around and we see the musk economy continue to blossom. >> in some of your big picture recent research reports, you

have been talking about the muskonomy and some of the areas where we might deliver profitable innovations in the decades ahead. one area is tunnelling before we get specifically to that, i was interested in one of the conclusions that led to you to think that could be such a big opportunity, which is that traffic in cities is going to get worse when autonomous driving becomes a thing. isn't it the assumption that the opposite is the case >> it's the hope of the street that if you can use a car more than 4% of the day, we can all fill our bodies into these cars and get along and all go and share a journey. but if you look at some of the experience with shared mobility and, you know, names like the shared mobility companies, you have seen kind of the opposite unintended consequence you can talk about what's happened to traffic when you have had shared mobility come in it's not been what was promised.

unintended consequence and so some of the scenarios we're running of autonomy, and elon talked about this on this last call. you take the cost of the mile travel and get it towards zero, some of the traffic outcomes are horrific, if not dystopian so humanity is stacked in cities in three dimensions, and transportation is stuck in two dementions we need to find a way to go up or down. and we think that the muskonomy and particularly the boring company is, if this is happening, wilfred and sara, they're going three dimensional into the earth's surface this is not fantasy. they're working in multiple cities to try to take pressure off surface transport and in the process we think it's going to involve tesla and their hopes and their abilities to get into the infrastructure space >> so i'm really interested, you said it's not fantasy, and i guess that was going to be my

follow-up, tunnelling has been around for a long time >> yeah, it's been around for a while. >> and so why is what musk is doing with it via the boring company with perhaps some help from tesla so groundbreaking or is this just a simple innovation that's relatively unimpressive compared to what he's done in the past >> so it normally takes a tunnel project, i'm giving you round numbers here, upwards of $600 million to a billion dollars a mile and a project that takes ten years to never to complete boring company is trying to do this at 1/100 a cost and ten times faster and to do it with less labor and without any taxpayer involvement up front with the support of tesla providing a lot of the vehicles and technology. the boring company is tesla and spacex people, controlled by elon, supported by investors, and getting in with governments that are setting them up for

success, that have urgent traffic needs right now. and so just like, you know, cnbc nailed the space economy because you guys followed what spacex was doing when everyone was counting them out, you're going to nail the tunnelling company because you're going to follow what boring company is doing too. your audience might still see this as a novelty and silly, but we should -- you should check this out over the next year or two. you'll hear a lot more about tunnelling on your program in the months to come >> i think you're going to nail it you have already put a tam on the tunnelling economy at $20 billion by 2050. so is there a public way for investors to play this is it just a buy tesla because it sounds like you think they're going to benefit as well >> listen, if tesla becomes a $4 trillion or $5 trillion company, it's going to happen in ways that we, the three of us and

your vie viewers, probably cannt predict. it's probably not going to be just selling cars. it's going to be turning the car into the app store, the mobile metaverse, unveiling ev new modalities, infrastructure, toll roads, going vertical and horizontal and so i think even the interplay between spacex and tesla and boring company and tesla, and maybe you can figure out neuro link and tesla, i'm not there yet, but it's that combination of doing tackling very different problems that require enormous amount of capital, infrastructure, bravery, technology, software, done in the u.s. in a u.s.-controlled way, that's a combination as we rebuild the renewable earth. so the answer, that's a long winded way of saying tesla is the best i got within my coverage to play this thing. >> adam, great to see you. thanks so much for joining us today. >> good to see you >> really deep >> yeah. >> pun intended on tunnels >> i didn't pick up on that. still ahead, mike santoli looks at what the ongoing bearish

sentiment around bonds means for the broader market when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative

aren't just made for traders -they're made by them. thinkorswim® by td ameritrade hey businesses! aren't just made for traders -thyou all deservehem. something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ stuff. we love stuff. and there's some really great stuff out there. but i doubt that any of us will look back on our lives and think, "i wish i'd bought an even thinner tv,

found a lighter light beer, or had an even smarter smartphone." do you think any of us will look back on our lives and regret the things we didn't buy? or the places we didn't go? ♪ i'd go the whole wide world ♪ ♪ i'd go the whole wide world ♪ let's get a quick check on the biggest movers airbnb seeing a beat across the board. roblox coming up short on the top and bottom line. users were solid but it's down

14%, viacom cbs reporting mixed results. decent subscribers but down 3%, and we are seeing wynn move a little bit lower, 4% in fact now on revenue revenue was a beat, earnings did miss, citing a covid impact on macao. >> cramer saying the 1.7 billion win it gets from the boston property is a bridge to when china reopens. >> up next, mike santoni heading to the telestrator with a look at the shifting sentiment surrounding the bond market, and doordash earnings on deck. that and other key themes we'll be watching tomorr wowhen "closing bell" comes right back. virtual wallet® with low cash mode℠ from pnc bank. one way we're making a difference. reducing our carbon emissions to net zero may be our biggest challenge yet.

there's no single action that will lead us to carbon neutrality. but there is a single source of essential sustainability intelligence. s&p global sustainable1. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!

let's go back to mike santoni who is taking a look at the bearish sentiment in the bond market. mike, what do you see? >> people defensively towards bonds right now. look at bank of america global fund manager released this morning, seeing the curve steepening when it is below zero there is strong consensus the

yield curve about flatten long term yields go down as short-term yields go up. that's been happening. in previous times in 2011 it became true the yield curve flattened further beyond that point for a few months and steep end again. in 2010 good contraireian indicator. right here, very strong consensus in early part of last year there would be a radically steepenning yield curve but didn't happen. that was the peak for it right now people are leaning hard in the direction of the bond market continuing to do what it's been doing look at price of long term et f. tl t at a very interesting spot in this five-year chart threatening to go back to the range that preceded the pandemic and before that in 2020 looks precarious, wouldn't be surprising to get a bid in here because people have positioned against it however, you haven't seen heavy

outflows yet from tlt that is something that happens right before there's a buying opportunity there. >> mike, thanks so much. it's been a wild afternoon for earnings and tomorrow shaping up to be another busy day up next, run day of key names we'll be watching and celebrating black history featuring some of our cnbc contributors, here's jason what he believes could change the future for the black community. >> the most important thing to change the future for african-americans is to expose us we need to be expose in all of the industries that are out here experience is our greatest teacher. we cannot be what we cannot see.

alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! hi, i'm debra. i'm from colorado. i've been married to my high school sweetheart for 35 years. i'm a mother of four-- always busy. i was starting to feel a little foggy. just didn't feel like things were as sharp

as i knew they once were. i heard about prevagen and then i started taking it about two years now. started noticing things a little sharper, a little clearer. i feel like it's kept me on my game. i'm able to remember things. i'd say give it a try. prevagen. healthier brain. better life. check out this vrbo. oh man. michael, they're your cousins. ♪ ( "right where i belong" by the muppets) ♪ ♪ look at me ♪ c'mon. ♪ here i am ♪ ♪ right where i belong ♪ ♪ i see that face coming back to me ♪ ♪ like an old familiar song ♪ ♪♪ ♪ what better place could anyone be? ♪ ♪ 'cause you're here with me ♪ ♪ it's all i've been looking for ♪ ♪ and so much more ♪ ♪ and now i'm here ♪ ♪ now you're here ♪ ♪ nothin' can go wrong ♪ ♪ 'cause i am here right where i belong! ♪ ♪♪

♪ and now i'm here ♪ ♪ now you're here ♪ ♪ nothin' can go wrong ♪ ♪ 'cause i am right where i belong! ♪ ♪♪ (car honks) welcome back we've got a news alert on altria >> shares are up fractionally right now after a judge ruled that the company did not break any anti trust laws when it acquired a 35% stake in jewel in 2018 still the ft c has the right to

appeal that ruling it originally sued altria saying it vial apted anti-frustrate laws it was purchased in 2018 by just under $1 billion and since $1.5 billion. shares of altria after judge rules it didn't break anti trust rules by acquiring 35% stake in jewel. back over to you. >> frank, thanks very much another business a -- another busy day of earnings ahead -- really surprised people how hot and widespread some of the numbers are before some of the blurs in other commentary that was pretty hawkish. >> minutes were market mover last time.

remember that. it illuminate napted the discussion about the balance sheet. question now is, have bullard told you what they were talking about in the last meeting in january? yes, it's a big question whether that will be the thing people care about earnings so far have not been most generous, not in terms of the results but in terms of the reaction >> air bnb slipping as well. >> yeah. >> roblox not bouncing. >> yeah, a lot of tactical captital that normally would chase is not there it's been wounded. hedge fund numbers are operating from a deficit position, keeping people from getting all that aggressive on these catalysts. >> we're also following headlines on ukraine and russia, is really a deescalation >> yes >> and whether yield will be able to rise more in light of things deescalating, potentially. european yields up a bit on the

headlines today. tomorrow will be the last time i'm hosting it feels business arz to say it feels bizarre to say that feels very much in the normal routine, hope you will join tomorrow mena time olympic coverage continues and tune in 11:00 p.m. for the news with shepard smith. the united states has won curling gold the temple of heaven constructed in the early 1400s in the ming dynasty first opened to the public in 1918, the central business district of beijing, and it's 10 >> the 9 stories tall looming in the